If the artificial intelligence (AI) boom leads to a bust in which leading stocks plummet, the implications for the crypto market would be huge and, perhaps surprisingly to some, not necessarily overwhelmingly negative. That’s a pressing issue in the moment, as AI chip stocks are looking sickly, with the Philadelphia Semiconductor Index recently posting its longest losing run since 2008, falling for eight straight sessions through the period ended Oct. 16.

Nobody knows whether this is the start of AI stock valuations crashing or just a reset. Either way, it’s worth mapping out what each outcome would mean for crypto before the answer arrives.

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Bitcoin is the asset to watch

I have three scenarios for how the…